I. COMMENCED TRADING IN MARCH

Company
(Symbol)#

Date
Filed

Date
Comm.

Shares/
Units (M)

Price

Shares Out
(M)@

Lead, Other
Underwriters

Gross
(M)

Post-
Offering
Market
Cap (M)%

INITIAL OFFERINGS

Algeta ASA
(Norway; OSLO:
ALGETA)1

3/13/07

3/23/07

5.3S

NOK47 ($7.72)

16.5

ABG Sundal Collier ASA, DnB NOR Mark. (co-lead) Terra Securities

NOK250 ($41.1)

NOK773.8 ($127.1)

Cosmo
Pharmaceuticals
SpA (Italy;
SWX:COPN)2

2/26/07

3/9/07

2.33S

CHF20($16.4)

13.53

Lehman Brothers, Sal. Oppenheim Jr. & Cie (co-lead)

CHF46.5 ($38.1)

CHF271 ($224)

DiaMedica
Inc. (Canada;
CDNX:DMA)3

N/A

3/22/07

5.5S

C$1 ($0.86)

N/A

Dundee Securities Corp., Research Capital Corp.

C$5.5 ($4.75)

N/A

Ipso
Ventures plc
(UK; AIM:IPS)4

3/7/07

3/7/07

5.3S

85p ($1.67)

12.4

Ambrian Partners

£4.5 ($8.6)

£10.53 ($20.8)

Neuropharm
Goup plc
(UK; AIM:NPH)5

3/7/07

3/12/07

15.75S

£1.27 ($2.5)

31.5

Investec Bank (U.K.) Ltd.

£20 ($38.4)

£40 ($78.9)

Total: $130.95M

Number of IPOs in March: 5

Average value of March IPOs: $26.19M

Number of IPOs in 2007: 12

Total raised in IPOs in 2007: $518.95M

Average value of IPOs in 2007: $43.25M

FOLLOW-ON OFFERINGS

Company
(Symbol)#

Date Filed

Date Comm.

Shares/ Units (M)

Price

Shares Out (M)@

Lead, Other Underwriters

Gross (M)

Post- Offering Market Cap (M)%

La Jolla
Pharmaceutical
Co. (LJPC)6

3/20/07

3/30/07

5.8S

$6

38.64

Needham & Co. LLC, AG Edwards & Sons

$34.9

$231.84

OVERALLOTMENTS

Oncolytics
Biotech Inc.
(Canada; ONCY;
TSX:ONC)7

2/22/07

3/21/07

0.6U

C$3 ($2.59)

37.1

Canaccord Capital Corp.

C$1.8 ($1.6)

C$111.3 ($96.2)

Rosetta
Genomics Ltd.
(Israel; ROSG)8

9/7/06

3/7/07

0.56S

$7

11.9

C.E. Unterberg, Towbin, Oppenheimer & Co.

$3.9

$83.3

SemBioSys
Genetics Inc.
(Canada;
TSX:SBS)9

1/16/07

3/5/07

1.1S

C$3 ($2.59)

N/A

Raymond James Ltd.

C$3.2 ($2.7)

N/A

Total: $43.1M

Number of follow-on offerings in March: 1

Average value of March follow-ons: $34.9M

Number of follow-on offerings in 2007: 16

Total raised in follow-ons in 2007: $883.96M

Average value of follow-ons in 2007: $55.25M

Notes:
# Unless otherwise indicated, shares are traded on the Nasdaq exchange.

@ This column reflects the shares outstanding following the offering, when disclosed.

% Market capitalization is calculated based on the offering price.

Currency conversions are based on exchange rates at the time of the deal. U.S. dollars are in brackets.

AIM = Alternative Investment Market; CDNX = Canadian Venture Exchange; SWX = Swiss Stock Exchange; TSX = Toronto Stock Exchange.

1. Algeta's underwriters have an overallotment option for another 797,852 shares. It conducted the IPO on the Oslo Stock Exchange in Norway.

2. Cosmo raised CHF46.5M in an IPO on the Swiss Stock Exchange. Underwriters have an option to purchase up to 348,900 additional shares per their overallotment option.

3. DiaMedica completed its IPO on the TSX Venture Exchange in Canada.

4. Ipso raised $8.6M in a listing on London's Alternative Investment Market.

5. Neuropharm raised the money in a listing on London's Alternative Investment Market.

6. La Jolla's underwriters have an overallotment option for an additional 870,000 shares.

7. Oncolytics' underwriter fully exercised its overallotment option to purchase an additional 600,000 units, bringing the total number of units sold to 4.6M and the total proceeds raised to C$13.8M (US$11.9M)

8. Rosetta's offering was completed in Febuary. The exercise of the overallotment option (562,500 shares) brings the total shares offered to 4.31M and the gross proceeds to $30.2M.

9. SemBioSys' offering was completed Feb. 20. The exercise of the overallotment option brings the total gross proceeds to C$15.9M (US$13.5M)

II. FILED AND PENDING

Company
(Symbol/
Proposed
Symbol)#*

Date
Filed

Shares/
Units
(M)

Price
Range

Shares
Out
(M)@

Lead, Other
Underwriters

Value
(M)
INITIAL OFFERINGS

Aegerion
Pharmaceuticals
Inc. (AEGR)1

3/21/07

N/A

N/A

N/A

Lehman Brothers, CIBC World Markets, Thomas Weisel Partners, C.E. Unterberg Towbin

$86

Amicus
Therapeutics
Inc. (FOLD)2

3/30/07

N/A

N/A

N/A

Morgan Stanley & Co. Inc., Merrill Lynch & Co. (co-lead), J.P. Morgan Securities Inc., Lazard Capital Markets LLC, Pacific Growth Equities

$86.3

Biodel Inc.
(BIOD)3

2/7/07

N/A

N/A

N/A

Banc of America Securities, Morgan Stanley (co-lead), Leerink Swann & Co., Natexis Bleichroeder

$86.25

Bioheart Inc.
(BHRT)4

2/13/07

N/A

N/A

21.5

BMO Capital Markets Corp., Janney Montgomery Scott (co-lead), Merriman Curhan Ford & Co.

$35

EndoCeutics
Inc. (Canada;
ENCX)5

2/27/07

5.75S

$11-$13

N/A

First Albany Capital, Oppenheimer & Co., Stifel Nicolaus

$69

Helicos
BioSciences
Corp. (HLCS)6

3/1/07

N/A

N/A

N/A

UBS Investment Bank, JP Morgan, Leerink Swann & Co., Pacific Growth Equities

$100

Jazz
Pharmaceuticals
Inc. (JAZZ)7

3/9/07

N/A

N/A

N/A

Morgan Stanley, Credit Suisse, Lehman Brothers, Natexis Bleichroeder

$172

Light Sciences
Oncology Inc.
(LSON)8

4/21/06

5.25S

$14-$16

18.5

Cowen & Co., Wachovia Securities (co-lead), Jefferies & Co. Thomas Weisel Partners

$78.75

NeurogesX Inc.
(NGSX)9

2/8/07

N/A

N/A

N/A

Morgan Stanely, Pacific Growth Equities, Lazard Capital Markets, Susquehanna Financial

$69

NovaBay
Pharmaceuticals
Inc. (AMEX:NBY;
TSX:NBY)10

2/15/07

N/A

N/A

31.8

N/A

$23

NovaCardia Inc.
(NCAR)11

3/30/07

N/A

N/A

88.1

J.P. Morgan Securities Inc., Credit Suisse Securities (co-lead), Pacific Growth Equities LLC, Albany Capital Inc.

$86.3

Orexigen
Therapeutics
Inc. (OREX)12

12/16/06

N/A

N/A

N/A

Merrill Lynch & Co., JP Morgan Securities (co-lead), JMP Securities, Leerink Swann & Co.

$86.25

Perlegen
Sciences Inc.
(PERL)13

4/10/06

N/A

N/A

N/A

Lehman Brothers, Deutsche Bank Securities (co-lead), Piper Jaffray & Co., Allen & Co.

$115

Pharmasset
Inc. (VRUS)14

5/9/06

6S

$12-$14

21.5

Banc of America Securities, UBS Investment Bank (co-lead), JMP Securities

$78

PTC
Therapeutics
Inc. (PTCT)15

3/31/06

N/A

N/A

N/A

Morgan Stanley & Co., JP Morgan Securities (co-lead), Pacific Growth Equities

$86.25

Quark Biotech
Inc. (QURK)16

3/30/07

N/A

N/A

37.5

JPMorgan, CIBC World Markets, Banc of America Securities, C.E. Unterberg, Towbin

$86.3

Sirtris
Pharmaceuticals
Inc. (SIRT)17

3/1/07

N/A

N/A

N/A

JP Morgan, CIBC World Markets, Piper Jaffray, JMP Securities, Rodman & Renshaw

$60

Sucampo
Pharmaceuticals
Inc. (SCMP)18

6/19/06

N/A

N/A

N/A

Banc of America Securities, Deutsche Bank Securities (co-lead), Leerink Swann & Co.

$86.25
FOLLOW-ON OFFERINGS

Company
(Symbol/
Proposed
Symbol)#*

Date
Filed

Shares/
Units
(M)

Price
Range

Shares
Out
(M)@

Lead, Other Underwriters

Value
(M)

Neurochem Inc.
(NRMX)19

1/18/07

N/A

N/A

N/A

N/A

$102
WITHDRAWN OR POSTPONED

Company
(Symbol/
Proposed
Symbol)#*

Date Filed/
Date
Pulled

Shares/
Units
(M)

Price
Range

Shares
Out
(M)@

Lead, Other
Underwriters

Value
(M)

OncoGenex
Technologies
Inc. (Canada;
OGXI; TSX:OGX)
20

12/13/06 3/7/07

5S

$7.50 - $8.50

16.1

RBC Capital Markets, Needham & Co., Lazard Capital Markets, Canaccord Adams, Susquehanna Financial Group

$40

Notes:

# Unless otherwise indicated, shares are traded on the Nasdaq exchange; general shelf registration statements are not included until action is taken on the filing.

* Stock symbols for companies seeking to complete IPOs are proposed.

@ This column reflects the shares outstanding following the offering, when disclosed.

N/A = Not available, applicable or reported.

AMEX = American Stock Exchange; TSX = Toronto Stock Exchange.

1. Aegerion filed to raise $86M in an IPO; the price per share and number of shares to be offered have not yet been disclosed.

2. Amicus filed to raise $86.3M in an IPO.

3. Biodel filed to raise $86.25M in its IPO.

4. Bioheart filed for a $35M IPO.

5. EndoCeutics's expected IPO value is based on the midpoint of the price range.

6. Helicos filed to raise $100M in its IPO. The number of shares to be offered and the price range were not disclosed.

7. Jazz filed for its IPO to raise $172M, but has not yet disclosed the number of shares to be offered or the price range.

8. Light Sciences Oncology filed to raise up to $86.25M in an IPO. The shares and price range were estimated in September. The value is based on the midpoint of those estimates.

9. NeurogesX filed to raise $69M in its IPO. The number of shares and price range were not disclosed.

10. NovaBay is seeking a dual listing on the American and Toronto stock exchanges, hoping to raise $23M.

11. NovaCardia filed to raise $86.3M in its IPO.

12. Orexigen filed to raise up to $86.25M in an IPO.

13. Perlegen filed to raise up to $115M in an IPO.

14. Pharmasset set the price range and number of shares to be sold in its IPO. The value is based on the midpoint of the expected price range. Underwriters have a 900,000-share overallotment option.

15. PTC Therapeutics filed to raise up to $86.25M in an IPO.

16. Quark Biotech filed to raise $86.3M in its IPO.

17. Sirtris filed to raise $60M in an IPO. The number of shares to be offered and the price range were not disclosed.

18. Sucampo filed to raise up to $86.25M in an IPO.

19. Neurochem filed registration statements for $102M in Canada and the U.S. including the resale of up to $60M of its common shares and the resale of 6% senior convertible notes.

20. OncoGenex withdrew its registration statement for the proposed IPO citing adverse marketing conditions.